Repayment Estimator

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How to Repay Your Loans

Find the right repayment plan for you, learn how to make payments, get help if you can’t afford your payments, and see what circumstances might result in a loan being forgiven, canceled, or discharged.

Use the Repayment Estimator

The Repayment Estimator can help you figure out which repayment plan is best for you.

Log in, and we’ll pull in relevant information such as your loan amounts, loan types, and interest rates. Just enter some additional information, such as your income and family size, and your results will show what your payments would be under each repayment plan.

How to Make a Payment

Your loan servicer handles all billing regarding your student loan, so you’ll need to make payments directly to your servicer. Each servicer has its own payment process and can work with you if you need help making payments.

Never miss a payment. Got a Direct Loan? Sign up for automatic debit through your loan servicer, and your payments will be automatically taken from your bank account. Bonus: you get a 0.25% interest rate deduction when you enroll!

Change your payment due date. Do you get paid after your student loan payment is due each month? If so, contact your loan servicer and ask whether you’d be able to switch the date your student loan payment is due.

Change your repayment plan. What you ultimately pay depends on the plan you choose and when you borrowed. If you need lower monthly payments, consider an income-driven repayment plan that’ll base your monthly payment amount on how much you make.

Consolidate your loans. If you have multiple student loans, simplify the repayment process with a Direct Consolidation Loan—allowing you to combine all your federal student loans into one loan for one monthly payment.

If the options above don’t work for you and you simply can’t make any payments right now, you might be eligible to postpone your payments through a deferment or forbearance. However, depending on the type of loan you have, interest may still accrue (accumulate) on your loan during the time you’re not making payments.

“How to Manage Your Student Loans” Video

Check out this video to learn more about changing repayment plans, postponing or reducing your payments, or combining your federal student loans. (Captioning available in English and Spanish; just start the video and click on the CC symbol at the bottom.)

Student Loan Forgiveness, Cancellation, and Discharge

There are some circumstances that may result in your no longer having to repay your federal student loan. For instance, some or all of your loan could be forgiven in exchange for your performing certain types of service such as teaching or public service. Or the obligation to make further payments on your loan might be discharged based on specific factors such as your school closing or your becoming totally and permanently disabled. Take a look at all the possibilities: Find out what circumstances qualify your loans for forgiveness, cancellation, or discharge.